Western Australian Current Regulations Western Australian Current Regulations (1) For the purposes
of section 37(4), a determination of the capital value of a lot in a
strata scheme that is made for the purposes of registering a schedule of unit
entitlements, or an amendment of a schedule of unit entitlements, must be made
in accordance with this regulation.
(2) A licensed valuer
must determine the capital value of a lot as if it had the standard level of
internal fit out and finishes for that lot.
(3) The standard level
of internal fit out and finishes for a lot is the level of fit out and
finishes that the licensed valuer determines to be a reasonable representation
of the average expected level of fit out and finishes for lots in the strata
scheme of that property type and of commensurate age.
(4) The standard level
of internal fit out and finishes for a lot must be determined by the licensed
valuer after —
(a)
conducting a physical inspection of the parcel of land the subject of the
strata scheme; and
(b)
conducting an internal inspection of as many lots in the strata scheme as is
reasonably practicable to enable the licensed valuer to make a reasonable
assessment of the average expected level of fit out and finishes for lots of
the same property type and of commensurate age; and
(c)
taking into account any relevant information obtained from the strata company
or on the strata plan.
(5) A licensed valuer
must include in the capital value of a lot any buildings within the lot that
have planning approval or approval under any other written law, whether or not
shown on the strata plan.